Puerto Rico - INSIDER highlights
Several articles this month may be of interest to Puerto Rico employers.
- The article FASB
Issues New Disclosure Standard on Transition and Disclosure of Stock-Based
Compensation discusses
the new regulations promulgated by the
Financial Accounting Standards Board (FASB) regarding the accounting
for stock options for companies who have decided to move to a fair value basis
for reporting the
value of those options. These new rules, described in FAS 148, are
designed to smooth
out the effect of moving to a fair value basis for reporting the value
of stock options
and expand the disclosure requirements for such options.
- Defined
Contribution Plans and the Safest Available Annuity Provider Rule discusses the recent Advisory
Opinion from the US
Department of Labor regarding the responsibilities of plan fiduciaries
in selecting
annuity providers to provide annuity contracts to participants of defined
contribution
plans. If your defined contribution plan offers an annuity contract
as one of the
optional forms of payment, you should review this article carefully
to make sure the
proper procedures are in place in selecting an annuity provider.
Watson Wyatt is now confirming participants for the 2003
Puerto Rico Manufacturers
Association Compensation Survey. Don’t miss this opportunity to obtain our Island’s most
comprehensive pay information on over 200 positions in manufacturing and services! See the
enclosed Registration Form for details, and feel free to call us with any questions.
Sincerely,
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